Crestline Management LP Makes New $582,000 Investment in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Crestline Management LP bought a new stake in Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 12,943 shares of the company's stock, valued at approximately $582,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SLNO. Barclays PLC raised its holdings in shares of Soleno Therapeutics by 149.3% in the third quarter. Barclays PLC now owns 52,545 shares of the company's stock worth $2,652,000 after acquiring an additional 31,467 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Soleno Therapeutics by 35.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 13,915 shares of the company's stock valued at $703,000 after purchasing an additional 3,666 shares during the period. Harbor Capital Advisors Inc. boosted its stake in Soleno Therapeutics by 3.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 37,296 shares of the company's stock valued at $1,676,000 after purchasing an additional 1,248 shares in the last quarter. Avanza Fonder AB acquired a new position in Soleno Therapeutics in the 4th quarter worth approximately $76,000. Finally, Avior Wealth Management LLC acquired a new stake in shares of Soleno Therapeutics during the 4th quarter valued at about $89,000. Hedge funds and other institutional investors own 97.42% of the company's stock.

Insider Transactions at Soleno Therapeutics

In other news, insider Patricia C. Hirano sold 3,782 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $70.11, for a total value of $265,156.02. Following the completion of the sale, the insider now directly owns 27,036 shares of the company's stock, valued at approximately $1,895,493.96. This represents a 12.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Bhatnagar Anish sold 699,095 shares of the stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $67.62, for a total value of $47,272,803.90. Following the completion of the sale, the chief executive officer now directly owns 577,076 shares of the company's stock, valued at approximately $39,021,879.12. This represents a 54.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 942,672 shares of company stock worth $64,058,781. Company insiders own 12.30% of the company's stock.

Wall Street Analysts Forecast Growth

SLNO has been the topic of several analyst reports. Laidlaw upped their target price on shares of Soleno Therapeutics from $75.00 to $105.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Stifel Nicolaus increased their price target on shares of Soleno Therapeutics from $74.00 to $108.00 and gave the company a "buy" rating in a research report on Friday, March 28th. Lifesci Capital raised Soleno Therapeutics to a "strong-buy" rating in a research note on Tuesday, February 4th. UBS Group set a $105.00 target price on Soleno Therapeutics in a report on Thursday, March 27th. Finally, Guggenheim boosted their price objective on Soleno Therapeutics from $81.00 to $97.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $106.78.

Soleno Therapeutics Trading Down 2.9%

Shares of Soleno Therapeutics stock traded down $2.26 during trading on Tuesday, hitting $74.44. 621,486 shares of the stock traded hands, compared to its average volume of 739,997. The firm has a market cap of $3.75 billion, a P/E ratio of -22.42 and a beta of -2.67. Soleno Therapeutics, Inc. has a 52-week low of $36.93 and a 52-week high of $80.99. The stock's fifty day simple moving average is $63.89 and its 200 day simple moving average is $54.52.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($0.95) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.14) by $0.19. As a group, equities analysts expect that Soleno Therapeutics, Inc. will post -3.72 EPS for the current year.

Soleno Therapeutics Company Profile

Soleno Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of novel therapeutics for the treatment of rare diseases. Its lead candidate is Diazoxide Choline Extended-Release tablets, a once-daily oral tablet, which is in Phase III clinical trials for the treatment of Prader-Willi Syndrome.